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Reyd01

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Are loan interest %s calculated incrementally by score or are % amounts set by score thresholds?
I know other factors help determine loan rates, but concerning scores, does credit score translate to something like .2% rate per 10 pts. on your score when calculating loan interest rates or are %'s set by threshold, ie (4% 800+, 5% 750-800, 6% 700-750, etc.)? I guess I'm asking if you're screwed out of 1%+ on a rate if you're 1 point under a set parameter.

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There is no definite percentage of interest paid based on credit score.  Each lendor has certain criteria they require to grant credit, such as length of employment, and earnings and ratio of debt to income.  You might have a great credit score but, due to low income, not be granted a loan.

I suggest reading the articles here because the purpose of Credit Karma is to teach people about credit and how  to make it work for them.  

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